Uni achieves third straight year of growth
Thursday, 2 June 2005
The University of Adelaide has recorded its third consecutive year of achieving a positive financial result, after its audited figures were approved today.
For 2004, the University achieved a positive operating result of $21.6 million. This follows on from its results of $20.2 million for 2003 and $12.4 million for 2002.
University Vice-Chancellor Professor James McWha says the result shows the University has achieved sustainable financial growth, enabling it to improve conditions and facilities for students and staff.
"This is a very sound result - we have gone from recording a negative operating result in 2001 to three consecutive years of positive results," Professor McWha says.
"By reaching this sustainable level of financial achievement, it has allowed us to embark on a range of initiatives that benefits our most important asset: our people.
"For our students, we have been able to offer more scholarships and improve equity and access; and we have given our staff salary increases and improved working conditions.
"We are also making significant investments in the buildings and facilities which house our students and staff, to give them the highest quality environment for learning, teaching and research."
In all, the University has committed more than $35 million in 2005 towards its capital works program, including:
· $7 million for the upgrade of the Napier Building and surrounds, one of the University's key teaching sites;
· $1.8 million towards upgrading other teaching areas, audio-visual and IT equipment and infrastructure;
· Up to $5 million for the new home of the University's world-leading Reproductive Medicine Unit;
· $1 million for new facilities associated with the recently announced Wine Innovation Cluster, to be located on the Waite Campus; and
· The establishment of its Roseworthy Campus as the headquarters for the new Cooperative Research Centre (CRC) for an Internationally Competitive Pork Industry.
Other key figures from 2004 include: total student numbers rising to 18,690, an increase of nearly 5% from 2003 (including an increase of nearly 20% in the total number of international students); an increase of total research income of more than 8% from 2003; and an increase in net assets of more than 4% from 2003.
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